At Pro, we specialise in premium insurance processing, addressing a significant concern for mid to large-sized brokers. We offer extensive professional support in policy updates, underwriting group modifications, premium insurance processing, and payment schedule preparation. We also handle the creation and submission of London Premium Advice Notes (LPANs) for Bureau and Non-Bureau underwriting closings. Our premium insurance processing services extend to mid-term adjustments, endorsement processing, invoice issuance to clients, and closing to underwriters. We are adept at resolving queries related to Xchanging, IBA, Front End, and Claims, and provide comprehensive reporting on volumes, SLAs, and query logs.
At Pro, we manage all aspects of claims administration and triage in collaboration with brokers. Our services span from handling the First Notification of Loss (FNOL), processing advice to client and Market systems, managing Market responses, liaising with clients/TPAs, to issuing non-bureau Market documents. We also handle complex claims, including risk identification, coverage review, claims file preparation, and maintaining client and Market claims records. We build meaningful relationships with insureds, experts, and insurers, and resolve queries regarding fund collection/payment and cash allocation.
We manage and reconcile Insurance Broking Accounts, a critical function for brokers that ensures efficient capital use, rapid payment of valid claims, and compliant cash allocation. Our services include handling Insurer IBA, Bureau Payments, releasing delinked signings, tracking queries, reconciling signings versus IBA transactions, and RP Credit Control. We also manage Non-Bureau Premium and Claim Payments, pay all PPWs to Underwriters on receipt, and handle other payable Premiums to non-bureau insurers. We focus on Cash Allocation, reconciling and allocating all incoming/outgoing cash, liaising with various teams to resolve unallocated cash, and monitoring and reporting unallocated cash. We also handle Client IBA, Credit Control, rendering statements, debt monitoring and chasing, and focus on reporting aged debt, top debtors, and unallocated cash.
Legacy books of business require efficient and compliant management, but brokers can sometimes struggle to allocate the right resources to this function, particularly when live business is growing. Pro has rich experience in managing legacy business and improving processes to realise the most efficient run-off and financial closure of a book, recovering funding and uncollected brokerage and resolving aged, outstanding technical transactions and cash.
The underlying structure of an insurance business can create an unallocated cash problem, either through manual allocation and mismatches caused by system constraints, ineffective accounting, and/or legacy system migrations. Pro Global can deliver cash clarity through its three -step resolve, remodel and maintain approach, and improve overall liquidity.
Pro’s teams offer a unique blend of expert and technician level resource, enhanced by digital assistance to genuinely transform broker support and technical accounting processes. Our Broker Services provide operational excellence and resilience to deliver improved outcomes.
Focus on Growth: The need to manage operational support services is eliminated. Expert Handling of Exceptions: Pro’s technical experts are on hand to manage exceptions, ensuring smooth operations. Reduced Distractions: Allows clients to devote more time and resources to their core business functions and client relationships. Increased Accuracy and Speed: The introduction of digital assistance enhances operational efficiency.Our Broker Services team offer a broad range of expertise and with the global insurance broker market continuing to grow year-on-year, it’s a key area of focus for Pro and one which plays to our strengths as a trusted outsource partner.
Dani Rosser - Head of Broker Services
We know that different markets can have different specialisms. We’ve spent 28 years tailoring our specialist expertise for multiple markets and languages.
Contact us to learn more about our Broker Services and how they can benefit your business.
Get in touch now and let's talk more about how we can work together.
Richard Emmett
Head of Insurance Services, UK
